A defeat to Leeds on Tuesday night extended Newcastle's winless run to eleven matches in all competitions.
The 2-1 loss ramps up the pressure on Bruce, who's been tipped for the chop by many over the past few weeks.
Taylor, who played under Bruce at Wigan and Hull, spoke very highly of him but suggested the manager is 'too nice' for his own good - and that's reflected on Newcastle's performances.
He also believes Newcastle's slump could make Bruce, who's now on the worst run of results of his managerial career, unwell.
"I love Steve because I've had him twice as a manager. He's a great guy and I'm sure the players really like him too," Taylor told talkSPORT 2.
"But you see him on the sideline and he seems so stressed. He could actually be ill off what he's going through and it's not good for him and it's not good for the fans either.
"When it wasn't going well you sometimes wished the fans weren't there. But that's football - fans want to be entertained and they haven't really got anyone to entertain in the stadium, there's no one getting on their back.
"I'd love to see a bit more from Newcastle's leaders, their captain but even the ones that have been there a while I just look at and think 'give me something, show me, drive someone by the scruff of the neck.'
"It just seems like it's too nice and maybe that's the impression because Steve's such a nice guy. I don't see anyone getting hold of anyone and rallying people, it seems like 'oh, we lost that game, maybe we'll go again next.'"
There were positives to take from the clash against Leeds - Miguel Almiron's equaliser coming through neat interplay with Jonjo Shelvey and Callum Wilson.
Allan Saint-Maximin also got more minutes under his belt as he continues to regain full fitness and he caused problems for the Leeds defence.
The French forward is making a gradual recovery from the effects of long COVID, with Newcastle's bad run starting shortly after he was ruled out in November.
His return will be a big boost for the Magpies, however, Taylor fears the team relies on him too much.
"I know they lost Saint-Maximin, who is their bright spark, but you've got plenty of other players and it just shows how reliant they are on him," Taylor added.
"When he came on against Aston Villa, they looked so flat in that game and it was almost like they were waiting for Allan to come on.
"It was mad because every time he was sort of free they gave him the ball like he was Messi, 'just do something for us, please.'
"It was very much the same against Leeds, I thought he was brilliant when he came on but it's almost too little, too late."
Former Newcastle star Ryan Taylor fears the Magpies' bad form will take its toll on the health of under-pressure manager Steve Bruce.